This text is part of the special Real Estate section
When the time comes to buy or sell a property, how do you choose the right real estate broker who will ensure that you support your clients in one of the most important transactions of their lives? Several criteria must be taken into account in order to find the right professional.
Contaminated artesian wells, non-compliant septic tanks, mushrooms, pyrite, iron ocher, flood zones, polluted land… “There are many more risks linked to a real estate transaction today than there were ago 10, 15 or 20 years. And this, mainly because we discovered a lot of defects that can affect a residence,” explains Marc Lacasse, real estate broker and president of the board of directors of the Professional Association of Real Estate Brokers of Quebec (APCIQ). The role of a real estate agent is first and foremost to reduce these risks, he summarizes.
A simple owner also does not have the necessary knowledge to be able to tell the truth based on the dangers, adds Yvon Rudolphe, lecturer in real estate at the School of Management Sciences (ESG) of the University of Quebec in Montreal (UQAM).
A broker will therefore act as an intermediary in order to properly protect his client while respecting the obligations prescribed under the Real Estate Brokerage Act, adds Louis Beauchamp, vice-president of communications at the Real Estate Self-Regulation Organization. of Quebec (OACIQ).
What are the criteria for making your choice?
Faced with the array of brands and brokers, how do you make a decision? “It’s not the brand that counts, it’s always the broker,” summarizes Mr. Rudolphe. Someone who is also a certified appraiser believes that it is crucial to establish a relationship of trust with the person whose services we will retain.
The three experts agree that word of mouth and referrals from someone close to you are still the best way to find your agent. Mr. Lacasse recommends then carrying out some research on the Web, in particular by consulting the broker’s LinkedIn profile. It is also possible to go to the OACIQ website to verify that the person recommended has a valid license and that they have not been the subject of any disciplinary notices or mentions.
The president of the APCIQ board adds that it is crucial to ask certain questions of your broker, namely their availability and their communication methods. “And how will we work together when I go to see a property I’m interested in?” How will things go during the visit? What kind of support will you give me? If I want to make a promise to purchase, how will we establish the fair price to offer for this property? These are questions to ask in advance until you go to the notary,” he lists.
Some buyers would also benefit from opting for a broker who knows the area where they want to move, believes Mr. Rudolphe. “A person who is truly omnipresent in the sector is already someone better able to give us a certain idea of the surroundings,” he argues.
And for sellers?
Like buyers, sellers also benefit from clarifying certain parameters before entrusting the sale of their residence to a broker. “You can shop around because there is a lot of competition in the field,” suggests Mr. Beauchamp.
For his part, Mr. Lacasse advises sellers to find out about the service offering, such as advertising to display the property and the rate of remuneration. “There are as many business models as there are brokers. When you ask your questions, naturally, you will make up your mind about the level of trust you place in this person,” he adds.
To those who would be tempted to take care of the sale themselves, Mr. Rudolphe gives a warning: “When people sold by themselves, I asked them: under what pretext do you let strangers in? You can easily freeze a property [avec une promesse d’achat] and subsequently cause the owner to lose proposals and offers. There are plenty of ways to hinder a transaction,” he warns.
Possible recourses
The actions of certain brokers have made headlines in recent months, undermining public confidence in the profession. In January, the OACIQ disciplinary committee found two brokers guilty of using false purchase offers with the aim of stimulating bidding wars on properties and increasing the amount of their commission. Others have been singled out in the media for having made fraudulent transactions or having placed themselves in a conflict of interest. “We cannot represent the interests of a buyer and a seller at the same time, for obvious reasons,” recalls Mr. Beauchamp.
He nevertheless emphasizes that “the vast majority, if not almost all, of real estate brokers carry out honest and professional work”. Last year, 77,841 residential real estate transactions were concluded in Quebec. Only 2% of them were the subject of requests for assistance from the public with, ultimately, 69 disciplinary complaints filed, according to OACIQ data.
“There are unfortunately some cases of brokers who have been reckless or who have really broken the rules. And, naturally, we don’t agree with that. This affects our entire profession,” laments Mr. Lacasse. He reminds that those who have doubts can turn to the OACIQ when they question the work of their broker.
The president of the APCIQ board specifies that it is not in the interest of a broker to go against those of his client. “We want to make this transaction, for you to then pass on our contact details to your loved ones and for you to think of me when you go to buy a second home. One thing the majority of us are looking for is to be your broker for life. »
This content was produced by the Special Publications team at Duty, relating to marketing. The writing of the Duty did not take part.